BCG Matrix : Reflection on Competitive Strategy
Added on 2020-01-06
6 Pages1445 Words621 ViewsType: 621
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Reflection on competitive strategy 1
Table of ContentsINTRODUCTION ...............................................................................................................................3REFLECTION .....................................................................................................................................3REFERENCES.....................................................................................................................................62
INTRODUCTION The importance of competitive advantage cannot be over or under estimate because it helpsthe companies in the different aspects of the business. With the application of it, an effectivemarketing strategy develops to survive in the market (Sharma, 2016). Along with this, it assist themanagement to formulate various long and short term objectives to achieve the success. In thiscontext, for the organizations, it is important that competitive strategy should be unique from therivals and develop the business in the direction of sustainability (Meer, 2010.). The present report isbased on reflection of competitive strategy and to understand the usefulness of the tools of strategyand evaluation, BCG (Boston Consultancy Matrix) is taking into the consideration. The objectivethat will cover under current study will be role of strategic tools in strategy management and its usein formulation of the different strategies (LI and LI, 2011). REFLECTION During the study, I have learned various theories that are presently used by the organizationsfor the various purpose such as strategy formulation, evaluation of the current tactics, developmentof the long and short term objectives and plans etc. From the analysis of the various case studies ofthe companies, I have found that the reasons and purpose behind using of theories and models havevaried as per the nature of business. In this context, I have gained the knowledge about the strategicmanagement that uses for managing several processes and activities. It involves formulation andimplementation of the objectives and goals that are taking by the top management by consideringthe limitations of the resources and evaluation of internal and external environment where companyis competing. Strategic management include two concepts strategic planning and strategic thinking.Strategic planning is analytical nature and produce the different process to analyse the inputs andsynthesizes the outcomes that is ,in the form of strategy (The BCG Matrix, 2011). So, I haveanalysed that strategic management have two major processes: formulation and implementation ofthe strategies. One of the strategic management theory that I have recently studied and new for me that isBCG matrix. After the reading, I have found that it is a corporate planning tool where planning isform on by considering the two dimensions: market share and market growth. This following tool isalso called from the name of growth share matrix where the two dimensions helps in evaluation ofpotential of business brand portfolio and according to it, the various investment strategies can beselect and implement. Along with this, I have learned that with the help of this framework, thestrategic position of the business in the market can be analysed and take the decisions of bring thechanges in the current market position of the firm. 3
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